Nomura Holdings Inc. Makes New $379,000 Investment in Allegro MicroSystems, Inc. (NASDAQ:ALGM)

Nomura Holdings Inc. acquired a new stake in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 17,333 shares of the company's stock, valued at approximately $379,000.

Several other hedge funds have also added to or reduced their stakes in the business. TD Waterhouse Canada Inc. acquired a new stake in Allegro MicroSystems in the 4th quarter valued at approximately $40,000. Venturi Wealth Management LLC bought a new position in Allegro MicroSystems in the fourth quarter valued at $47,000. Quarry LP acquired a new stake in Allegro MicroSystems in the 4th quarter valued at $79,000. Sterling Capital Management LLC increased its stake in Allegro MicroSystems by 59.9% in the 4th quarter. Sterling Capital Management LLC now owns 7,364 shares of the company's stock valued at $161,000 after buying an additional 2,758 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new stake in Allegro MicroSystems during the 4th quarter worth about $186,000. Institutional investors and hedge funds own 56.45% of the company's stock.

Allegro MicroSystems Price Performance

ALGM stock traded down $0.07 during midday trading on Wednesday, reaching $26.05. The company had a trading volume of 334,710 shares, compared to its average volume of 2,577,153. The company has a market capitalization of $4.80 billion, a price-to-earnings ratio of -74.59 and a beta of 1.57. The company has a debt-to-equity ratio of 0.40, a current ratio of 4.91 and a quick ratio of 3.00. Allegro MicroSystems, Inc. has a 1-year low of $16.38 and a 1-year high of $33.26. The stock has a 50 day moving average price of $22.53 and a 200-day moving average price of $23.09.

Allegro MicroSystems (NASDAQ:ALGM - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.01. Allegro MicroSystems had a negative net margin of 8.45% and a positive return on equity of 4.31%. The company had revenue of $192.82 million for the quarter, compared to analyst estimates of $185.35 million. During the same period in the previous year, the firm posted $0.25 EPS. The firm's revenue was down 19.9% on a year-over-year basis. Equities research analysts expect that Allegro MicroSystems, Inc. will post 0.01 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ALGM. Barclays lifted their target price on Allegro MicroSystems from $22.00 to $23.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. UBS Group boosted their price target on Allegro MicroSystems from $22.00 to $25.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Needham & Company LLC cut their price objective on Allegro MicroSystems from $30.00 to $25.00 and set a "buy" rating for the company in a report on Friday, May 9th. Morgan Stanley increased their price target on shares of Allegro MicroSystems from $21.00 to $23.00 and gave the company an "equal weight" rating in a research note on Monday, February 3rd. Finally, Mizuho lifted their price objective on shares of Allegro MicroSystems from $28.00 to $31.00 and gave the company an "outperform" rating in a research report on Monday, March 24th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Allegro MicroSystems has an average rating of "Moderate Buy" and an average price target of $27.38.

Allegro MicroSystems Profile

Allegro MicroSystems, Inc, together with its subsidiaries, designs, develops, manufactures, and markets sensor integrated circuits (ICs) and application-specific analog power ICs for motion control and energy-efficient systems. Its products include magnetic sensor ICs, such as position, speed, and current sensor ICs; and power ICs comprising motor driver ICs, regulator and LED driver ICs, and isolated gate drivers.